Mortgage note (Cedule)

A property lien certificate serving as security for the mortgage.

The mortgage note (cedule hypothecaire) is a property lien instrument registered at the land registry. It serves as security for the mortgage loan.

In Switzerland, there are two types of mortgage notes: - Register mortgage note (dematerialised, most common today) - Paper mortgage note (traditional form)

The mortgage note amount generally corresponds to the mortgage amount. When switching banks, the note can be transferred to the new lender, avoiding the cost of creating a new one.

The cost of creating a mortgage note is approximately 0.1% to 0.3% of the amount, depending on the canton.

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